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from the courthouse coming up. >> david cote will be here in a few minutes. defense firms going full steam ahead. despite sequester cuts. we will get his comment on earnings. plus find out what led him to step down from j.p. morgan's board. he did that in the past week. >> let's check the market as we approach the final hour of trading. 15,514, last trade of the blue chip average. nasdaq in positive territory due it a handful of gainers as well as facebook. facebook up better than 20% right now. 25% earlier. s&p 500 looks like this. standard & poor's is fractionally negative. >> bob pisani, what is going on here? >> higher interest rates are hurting the stock market. can't say it more simply. interest rates up three days in a re. don't have more to say about it. orders are down 12%. horton below expectations. horton's conference calls, what everyone is talking about. causing an increase of cancellations. put up will full screen. first time buyer shop so they would notice the first time buyers got hurt. cancellations go from 20% to 25%. doesn't sound like a lot but it effects overall
. the secretary of defense does not seem like he is too torn up over drastic cuts to our nation's military budget. general jackies joins us to assess the impact. lou: in lou: in breaking news tonight, to new developments in the house of representatives. moments ago lawmakers passed the senate approved a plan to lower loan interest rates for college students nationwide. the house voted 392-31 on a bill that sets interest rates on the ten year treasury note plus a cap. that bill now headed to the white house where the president has already said he will sign into law. the house of representatives also approving new tougher sanctions against iran. that vote 400-20. defense secretary jack hegel today says he is not as he put it crying wolf about sequester cuts. he laid out how the pentagon planning for what could be the smallest army since before world war ii will look like. >> if these abrupt cuts remain we risk fielding a force that over the next two years is unprepared to to a lack of training, may nice, and the latest equipment. cuts on this scale would in effect be a decade-long modernization hol
and today on "studio b," a former military prosecutor, who is now a defense attorney, told me the government has not convicted somebody of aiding the enemy since 1917. >> that was is essentially a case where somebody was disclosing information because they wanted americans to be killed. they wanted the enemy to have this information. and, in this case, i think the government just was not able to prove that pfc manning intentionally disclosed this to the enemy. >> shepard: manning supporters demonstrated outside othe courthouse today they see him as the whistle blower, a hero, not a criminal. so do lawyers who just called him naive with good intentions. manning admits he did give wikileaks more than 700,000 documents. prosecutors claim he knew al qaeda would see that information on that, prosecutors for the government lost completely. catherine herridge is on fox top story in the courthouse in fort mead in maryland. what happened in the courtroom today, catherine. >> late today the a.p. picked up comments from the defense indicating that they really felt today's verdict was a significant win
. raytheon with 164 beating 1.30, and they raise the forecast and sequestration is -- >> defense, defense. northrup grumman is much better, and look at the gold standards, and northrup grumman is upgraded by merrill lynch and people were behind in the move. mcnerney said in the call that we are beginning to see the sequestration, and u.s. air talking about how sequestration hurt the airline industry, but the defense contractors and everybody was short and believed it was a laid up short, and it w wasn't. >> maybe not for now. but everybody has to believe. >> eventually. >> the defense budget over time will not rise as much as it has, and in fact, maybe go down. >> well, the government, and well telegraphed that a lot of the guys took out costs and you could see still some mergers and remember that the allies are coming, and the people who were not defending are buying stock. i know you want to be the world wide policeman. >> no, the cost of the joint strike fighter and for per plane. >> each one worth a gilead. >> yes, close to it. not quite $91 billion, but not far from it. >> and they a
killed off the little guy competition. both companies have sizable defense businesses while defense orders in the future may be slowing, there's very little competition for these contracts. hey, we know that from lockheed martin, which reported a marvelous number, and it has a stock that simply won't quit. or northrup grumman like we promoted last night on "off the charts." going higher. the defense names are the strongest stocks in this market this year. sequester? no competition. how about the railroads like csx and union pacific? monster good numbers. the rails, they don't compete. they raise prices routinely when contracts roll over. that is a fantastic business. let's talk health care. united health groups dazzled the dow. why? because these health maintenance companies have to -- well, to look -- i think they stopped competing on price. it's like they carved up the whole country. johnson & johnson posted terrific numbers. patent protection made that possible. no competition. but do you know who has the least competitive marketplace versus the old days? wow, is this a change. a
good defense to a failure to supervise case. then the feds come in on the other side they do a manuever now if steven cohen provide evidence and testimony in his defense in the sec case in washington, that will be used against him in the federal prosecution in new york. sac is surrounded right now and i don't think steven cohen is completely out of the woods in terms of an indictment. i think he has a problem. david: harvey, we may have to cut our conversation short. your cell phone is going in and out. if you can hear us we'll go on. but has there ever been a case. the sec is charging steve cohen and we may have criminal indictments to this charge, wasn't as conscious, not accusing him of insider trading but saying he should have been aware his traders were doing insider trading. has that kind of charge ever stuck? >> yes, they have brought similar types of cases but their case against cohen as i read it is much stronger than, than that. what they have said was, he was in the middle of e-mail chains that alerted them to the problematic nature of trading and i also think when you look a
the house of representatives has just passed a defense appropriations bill the legislation includes an amendment to bar it military action in egypt and of course, the war powers act if the president chooses to engage in syria. the $512 million defense spending bill passed 315 / 100 highberger joining us now is the time. great to have you here. so i could say this did it how bad of an idea is it from this president's political standpoint? >> nnouncing the huge speech with the economy is a void of any ideas or principles or policies what the president wants to a variance of was was a speech in illinois and those that will support him no matter what your fox news poll reflects that, he has lost in the middle of the road people but he has also lost a good percentage of his base those that support the president the most, the president's plate game is alive and well and will not play well in 2013 andlou: are ye president chose to do this? that look most peculiar to see a president at the beginning of his second term looking like he was on the campaign trail to talk exactly that way. >> i
as well as the defense team. what was perhaps getting a head line is the amount of discovery, the evidence the government has at this point as it is building its case for trial and discussion of wiretaps. wiretaps were crucial in the conviction of raj rajaratnam from galion and the insider-trading case. in this case wiretaps, no mention of richard lee, vaughn man who is cooperating with the government, who came from another hedge fund, quoted in the indictment as being part of an insider-trading circle, the hedge fund from which he came, denied there is an insider trading circle at their office but the bottom line is we are in the beginning of building the case and the government has to put up or for lack of a better term shut up and what they put up will include those wiretaps. we did get a quick chance to ambush the attorneys as they came out to see if they would explain why stephen cohen has not been charged, how he feels about that, the spirits of the people at sac because that is a term that will be doing business civitan with a lot of people withdrawing money. >> are the spirits of t
, others think it's for more defensive reasons. >> cash levels are very high because of a great deal of uncertainty. corporations feel uncertain about the future direction of legislation and sequester and what the federal reserve might do. >> reporter: apple far and away has the most cash on hand, with $145 billion. followed by microsoft with $87 billion and google at $56 billion. while the cash reserves of those tech heavy weights is impressive, cash makes up more than 72% of total assets for mid cap companies like linear technology and intuitive surgical. >> individual investors are also holding on, putting money out of bonds but not reinvesting in stocks. while economic and financial conditions have improved, there is enough uncertainty to keep investors on the sidelines waiting for reassurance. >> cash is simple and straight forward and as i got older, i prefer more straightforward interactions. >> i don't trust credit cards. i don't trust banks. i like to keep my cash close to me. >> i think i've been putting less than i normally would have put into the market at a change in a f
sequester budget cuts going, but with a different mix. an increase in defense spending. the president is campaigning around the country for more stimulus spending and the administration says it will not negotiate on raising the debt ceiling. >> we are now arguing about the composition. they want us to build a better future for the american middle class. >> one republican analyst says there is no way they will agree to raising the debt ceiling without more spending limits. >> they are willing to lower their expectations a bit. i think we can have a mini deal this year that raises the debt limit and starts to bring entitlement spending under control, or at least starts to slow the growth. peter: the president takes his budget campaign to chattanooga tomorrow. he will to her and warehouse. it is adding 7000 new jobs in 13 states. adam: thank you. peter barnes in washington, d.c. lori: a u.s. judge has ruled that bernanke should testify in their million-dollar lawsuit. it is rare for a fed chairman to be deposed in a lawsuit. an exception should be made because bernanke has kno
in the fox business right now. the securities and exchange commission and the defense rested their case in the trial of former goldman saks trader. the defense gas is expected to begin shortly, but, again, the prosecution, the fcc has now rested their case. i wanted to bring that breaking news to you right now. we'll keep you posted on how the trial progresses. me liz ha has done a lot of coverage on that one. there's this. treasury secretary jack lew hit the sunday talk show circuit over the weekend standing behind the president on the debate getting republican lawmakers an ultimate may tum ahead of what could be an 11th hour debt show down. >> the president made it clear we cannot negotiate whether or not the president of the united states would default. it was a mistake in 2011 to have the debate. it hurt the economy. i think congress knows they have to deal with this. cheryl: let's bring in the financial ted parrish and fox business' charles payne, and, charles, you know, basically, going back and saying that, you know, there's not going to be no debate, this this is going to be eit
in today's air force. bret? >> jennifer griffin live at the pentagon. thank you. >>> the defense says accused wikileaks bradley manning is a whistleblower, not a traitor as the government claims. his lawyer said he wanted to provoke more debate on policy out of concern for fellow americans. he is accused of 21 criminal counts, the most serious of which, aiding the enemy. there's a life sentence. >>> a plea deal for the man at the center of the cleveland, ohio kidnapping case. ariel castro agreed to life without parole, plus a thousand years to avoid the death penalty. the former school bus driver had been charged with hundreds of counts of kidnapping and rape, plus assault and other counts as well. >>> the mother of slain teenager trayvon martin was in philadelphia today to address the national urban league. sybrina fulton supports investigation into whether george zimmerman could be charged under federal civil rights laws. she also issued a call to action against stand your ground laws. >> no grandkids coming from trayvon, all because of a law, a law that has prevented the person who
, that the city should be paying for his legal defense. this is dunce-worthy. we want to get it started with the good mayor. well not such a good mayor. and on the other hand, we have weiner last night, weiner, refused to answer a direct question from new york daily news about whether he still se sexting women on-line, he said, quott, you can quibble about beginnings, middles and ends, but what we're talking abouttis over a year ago. it one thing to be a creep but to be a obnoxious narsistic creep? weiner's arrogance deservee a dunce cap. the mayor. filner against, is hanging on despite calls to resign from 7 of 9 san diego city council members, chairwoman of democratic national committee, senator diane feinstein. there not one but two recalls underway in san diego against filner. you would think he would start feeling not very huggable at this point. but his dilution earns him, we don't often give two at a time, but he is the winner. and weiner stays in the race though. in every day, despite calls to step down from democratic strategist david axelrod who said he is just taking you of s
about, obviously he had a lot to worry about. and his defenses is was a charity thing and it was a cancer charity. you never know. i hate to think other people making mountains out of a mole hill, he has angered the government in the past. the consumption has angered the government. liz: thank you very much. the circle of friends. liz: two >> everything you wanted to know about steve cohen but was too worried to ask. liz: but the dispute over herbalife. coming up straight after the bell. will they pile on even more if herbalife beats the street? and wants to know where the sweet spot is for stock investing right now? a money manager about to join us who believes he has the answer, the simple one and will spit out some names from his answer. you don't want to miss what he says in just a few moments. [ male announcer ] the mercedes-benz summer event is here. now get the unmistakable thrill... and the incredible rush... of the mercedes-benz you've always wanted. ♪ but you better get here fast... [ girl ] yay, daddy's here. here you go, honey. thanyou. [ male announcer b
side, on the defense side. >> that is what northrup grumman said. >> the most jarring trade in a long time the fact that it is the government and the defense spending raising the fortunes and the bag backlog is my favorite number of the day, 410. >> i have a backlog around that. >> 20-year backlog. >> i'm working on it. >> and it is going be a 25-year plan. >> that is going to be an all-time high for boeing. and the real story of raising the forecast for the year, europe was not a spoiler to a large degree, and phil points out that raising the global production by ford by almost 100,000 cars. >> clearly, not the most person who bought a ford 350 super duty. this has to be noticed, because the lat tirn american -- latin american trend is being pulled off. they are ahead of everybody else and i have charitable trust name, but ford could be in the late '80s renaissance. >> and not like the renaissance center in detroit. >> right. >> and the cash flow here is going to be the dividend rise, and anybody remember when ford had 5% yield and not because the stock was low? >> and what about the
, saying last week that he found s&p's puffery defense to be -- quote -- "deeply and unavoidably troubling." s&p's rationale should strike us all as deeply and unavoidably troubling because their legal defense -- this is s&p's legal defense -- says that no one could possibly rely on their ratings. but that was their job, to provide independent, objective, accurate ratings. millions of americans lost their jobs because s&p didn't do its job. they didn't -- s&p didn't do their one job. they have one job -- to provide accurate ratings. they didn't do their one job. they have no other job. i'm glad the department of justice is pursuing this case. but d.o.j.'s action is not enough. it is backward-looking, and it addresses past hamplet harms. my concern is that -- the presiding officer: the senator's time has expired. mr. franken: i would ask for about five more minutes. the presiding officer: without objection. mr. franken: thank you. thank you. i'm glad the d.o.j. case is going forward. but, as said, it is not enough. it is backward-looking and addresses past harms. my concern is that the cond
defenses against attacks on information system and realizes the seriousness of this matter. they are asking anyone who uses sunet any affiliates or someone contracts with them, change their passwords. do this maybe in a week or in two weeks just depending on what they determine in their investigation. a spokes person i got off the phone with said he couldn't release any more information. they are not going to be talking to us on camera. they really don't want to hamper the investigation. so that's all we know for now. trying to talk to people to see if anybody knows about it. students and faculty and staff were informed of this. ktvu channel 2 news. >> an internet gaming cafe appears to have reopened when it shut down when a news crew showed up and started asking questions. the hills internet cafe is back in business. when our crew went inside customers were playing games and winning money. we asked the manager about the legality of the machines. the manager told everyone to leave and closed down. city attorney is threatening to file an injunction to force it to permanently close. neighbors
on acquisitions and possibly mergers that could be defensive moves to try to protect the pnl. >> all right. stick there. we'll come back. little bit more to talk about, including earnings. >>> taylor wimpey, the company posted a 42% rise for first half of the year. the stock in the company up nearly 2%. quick word about this, paul, they said benefiting from the government's housing scheme, are we going to have too much of a good thing? >> i think housing transactions still remain pretty low. the thing about these house builders is they are taking increasing market share. as house prices are falling across the country, it is much more difficult for the secondary market, people selling homes, to adjust to that environment. they probably still have two inflated expectations of what the house is worth. a new house builder can adjust the build to accommodate lower prices. they are taking market share at the moment. and as we have seen, government so much behind the building of new houses and start to stimulate that past the economy in the same way the us has done. for the companies, they're in this we
ration with a variety of other aerospace and defense applications, and they have proprietary technology that's faster, more capable, and more accurate than anything out there so it's a crown jewel. liz: you made a lot of other acquisitions, geomagic, coweb, and then rptg. avi, let me just say that for viewers who don't know, you're in personal, professional, and production printer. you have enterprise and regular folks who want to buy these things. sch area shows the most promise? some analysts are concerned you go more with the software or the individual sales, and that, of course, has lower margins, thinner margins. >> liz, we look at this as a platform play and equal systems play taking it all the way from design to manufacturing for professional companies and from creativity to actuul making for the hobbies, the consumer, the educator, and kids. we see two big opportunities in front of us. the first one is in eventacturig this technology into real factors, be it in early space, defense, automotive, seeing it going to completely reshape patients' specific medical device, and it's a b
. those were strong earnings. when you get into the pharmaceutical space everybody says defensive. these are not defensive names. they're growth names. >> i have a question here. you both are working in the options market and seeing all these signs of bullishness and financials and industrials and so on. you look at the same markets and come away bearish. >> when i see a large call buy or something usually someone is selling stock against it. i don't exactly know what is going on. sometimes some of the smart guys at these levels are buying calls and replacing long stock. they're defining their risk at this point. >> they don't want to miss out on upside? >> have your exposure where you want it but trade around the positions whether you do it pete's way or dan's way. >> some of the most aggressive options we been seeing is buying up side calls and selling downside puts. you're willing to take that stock at that price but you think it's going higher. >> that's why the sell side is always limited to roughly five to seven percent. >> let's move on here and get the technical take on th
. >> and air gas fought them off and ended up with $40 more. >> and the defensive measures deployed by a corporate board are often compared to defensive measures deployed by the medieval castle dwellers. and they went on the say that the defendants' approach appears to be a premised on the notion of the poison pill is a normal exercise of board judgment like the adoption of a board. >> that is outrageous. >> until it made sense of our product. >> until peter causeland said when you can do better than the bid, and the stock up $40 in the initial bid. terrific report. let's go over to the wobond rept with rick santelli. >> you look at the intraday chart, and we go into the weeken weekend, we are seeming to be losing some altitude on the yields. if you open up the chart to a couple of months, it is very telling whether you believe in the ek a technicals or not, this is playing the range so to say. this is in the mid-40s and yesterday we dabbled with the low 60s and clearly the tops and the bottoms of the recent move that are significant. and if you look at the 10-year boon, it is givin
from the s.e.c. are expected to go another half an hour, and then a break and the defense will close for 2 1/2 hours and the s.e.c. comes back for another 30 minutes. the jury could be instructed and start deliberating today, but again, the closing arguments will continue through the afternoon, and we will be back with an afternoon. simon, back to you. >> mary, safe to assume that the defense team is fairly confident at this stage given that yesterday they decided not to call any witnesses, and in most of the newspapers this morning that is the conclusion? >> i think it is true. what they felt is that when fabrice tourre was on the stand, he made a convincing argument to his innocence. and the judge said that after this, the jury may not want to hear from anybody else, and this may be the end of it, and so the defense decided to cut the list short claiming that the defendant made a very good case for himself last week. simon. >> yes, thank you, mary. in the meantime, steve liesman is here with the results of the exclusively cnbc fed survey of where the respondents believe that the in
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a great familiarity with our foreign policy making apparatus. the state department dollar defense department and all that. having said that, i think mrs. kennedy will do a fine job. the real key is access to the president. if you have access to the president, everything follows. she is a subsidy person, and that is the second real qualification. think she will do quite well. dagen: is this about adjusting to the japanese culture? how difficult is that? >> it is somewhat difficult. japan is different, even asians will say that it is a different place. but you know these are great allies, great friends of the united states. they will go out of their way to try to be helpful to mrs. kennedy or any american ambassador. i think she's going to find it to be one of the greatest experiences of life. i think life will never be the same after it. is just such a varied background that you're dealing with. one minute someone will be talking to you about agriculture in the next about nuclear weapons. japan is so central to american foreign policy in the pacific that it is an intellectually cha
wiretaps. the government today announced they have wiretaps that they will turn over to the defense team. general counsel for sac. here is our exchange. >> how are the spirits of the people at sac? >> find. >> a people distressed? of course they issued a statement yesterday in which they said the firm never encouraged and promoted to more tolerated insider-trading. takes the compliance and management obligations seriously. it will be a long process. as of right now sac in trouble, steven cohen, not indicted. liz: that is true. let's keep that in mind. he is not yet accused in a criminal fashion. all of this leeal turmoil has us thinking about the founders unbelievable wealth and his passion for collecting art and luxury homes. in doing so he affects those economies. we're calling it the economy. estimated to be worth more than 9 billion, 21 years after he founded sac capital with 20 million of his own money. he and his family live in a one island sound in greenwich, connecticut. that is a town home to many top hedge fund managers. he also pays 60 million to buy an oceanfront mansion in e
resting its case in the fraud trial against ex-goldman sachs trader fabrice tourre. in a move the defense team didn't call any witnesses. closing statements will begin tooorrow. "after the bell" starts right now. david: let us get right to today's action. david cued low, breaks down why so-called barbell strategy helps you profit in uncertain environment. gerald levy, in the pits of the cme. jarrod, let's talk about the earnings season in general. we have had two earnings seasons since the year began. what do you think about the financials, their effect? some people think the financials are so big, reporting such big numbers members, partly because of fed is doing that they're skewing the overall, what say you? >> there are a couple of different opinions. i'm on that side of the coin, that the financials are looking better than they should. here is something to ponder. 270 companies in the s&p reported. we're about halfway threw. without the financials we would have negative 3.1% growth year-over-year. they're really carrying the s&p, with them included it is about 3% to the positive side
the workers made it out alive. so far, so good. >>> the defense in the fabrice tourre case didn't call any witnesses. so closing arguments set for today. jury deliberations expected to start tomorrow. the former goldman sachs trader is accused of secretly helping paulson and company construct $2 billion deal that could bet against. good to find clients on both sides of the trade. mary thompson is covering the story and will join us at 8:40 eastern. >>> two stars of the reality show "the housewives of new jersey" will be in court today. federal prosecutors charge them with just being totally obnoxious and unwatchable. no, i'm sorry, with 39 -- and totally irrelevant. no, 39 counts of fraud, alleging they used fake pay stubs, tax returns and w-2s to secure $5 million in loans before trying to declare bankruptcy. the stars, that's who they are. right there. know how to say that? >> teresa and joe giudice. i heard it on npr. >> 30 years in prison and millions of dollars in fines if convicted. >> problem? sister network. >> pretty good show. really. i don't know about these people. the show is
coming and testifying, what does that look like. especially when they're trying to defend defense what the sec is alleging here. >> just makes you wonder what happened, why they stopped cooperating in may. we talked with jacob frankel and he said the company was cooperate to go a certain point and it makes him wonder if other companies will rethink cooperation. >> optics are confusing especially considering cohen and s.a.c. settled with the sec in march 6$616 million. they had to have believed they would clear them of any potential forthcoming action. and to see that come two months later, they must have been extremely confused. so i think that when they probably stopped cooperating, i don't know this for sure, but they had to have been under the impression that whatever they were doing to cooperate wasn't working. and that they would be better off not cooperating. but certainly an interesting turn of events and wield very to s we'll have to see what the charges look like. >> thank you very much. joining us is hugh johnston. we appreciate your time to talk about some of these numbers.
a predictor of what's future performance. >> a lot of defense downgrades and the stocks turn out -- >> incredible move. >> raytheon, lockheed martin, much better than expected earnings. you get into the face of these companies that are doing well, with the ground grades, and then you've got to upgrade them after they move. we're seeing a lot of companies that are doing better than what the analysts expected. >> right. >> this move in asia, though, disconcerting, is it not, in terms of worries about growth? we're always talking about china. but japan again -- >> japan, go to bed last night, japan is down two. you wake up, it's down much more. japan is a major destabilizer. i believe -- i believe in the -- i believe earnings are coming back. but people only care about the end. >> right. >> if the end goes the wrong way they don't want to be there. what are people thinking about wynn? it's chinese gambling. people want to write off china every single day. is there every day companies like, china can help us here? no. >> no. it's about water supply being polluted, air being unbreatha
against terrorism. the vote was 217-205. so it's close. against an amendment to the defense bill. opponents of the amendment said that the surveillance program is intended to keep america safe from terrorism. supporters say it's an invasion of privacy. >> rein in government invasion, no more dragnet operations. get a specific warrant based on probable cause or stay out of our lives! >> if it passed, the nsa would have been required to identify specific targets before collecting data. >>> the man who leaked information about the nsa surveillance program remains in a holding pattern inside this moscow airport today. edward snowden's lawyer said russian immigration authorities are still reviewing his request for asylum. the obama administration is again telling russia, snowden should be returned to the u.s. to face spying charges. >>> o.j. simpson will be back inside a courtroom today fighting for his freedom. he is looking to get out of a nevada prison where he has been serving time for kidnapping and armed robbery. he was convicted in 2008 for robbing two sports memorabilia deale
trend, and people talk about defense of cyclicals, we talk about domestics as a feature. >> i want to raise another point. a note today was put out, ridesing long-term interest rates and a steepening yield curve is bullish for markets. people are saying it will crush the recover. he is saying take a look at the history, rising rates are a good signal. >> i generally agree if it a good signal when you are talking about an economy that is gaining traction. we can look through it, through credit conditions, we can look at it in terms of hiring intentions, across the board. i will buy into that, that we will get the earnings. the question that we focused on was the evaluation component of it. will the higher rates hurt the pes in the market. >> we are at 15 times earnings. and if you use a treasury or a b-double b-double-a, you feel it's hurting the recovery. >> bull or bear? >> longer term bull right now, we are in a correction mode. >> you are a bear right now, how bearish are you? >> i have not shorted the market, so that tells you once i decide to short the market, then i'm fully b
into a defensive play and take out a twitter, possibly buy a zynga for the e-commerce, buy a netflix, a perfect match, and get into the content, they'll be able to grow. so what facebook needs to do now is he went into the ipo for the big dollaring, you have to make the big acquisitions. >> no, i think making a major acquisition, especially netflix, isn't it. it's a tenth the size of facebook. monetize instagram. >> back to julia boorstin. more news on the quarter. over to you, julia. >> yeah, malia, just digging in deeper on the operating margin. the company's non-gaap operating margin, excluding share-based compensation and related payroll tax expenses, that was 44% in the second quarter compared to 43% a year ago. now, wall street analysts had been on average expecting 37%. so the margin is coming in better than expected, and that does, obviously, relate back to the eps beat. so looking at that, and in terms of some of the commentary here, they talk a lot about who they're now 1 million active advertisers on facebook and how that's really driven by growth in local business, and the success o
at the sectors, a defensive day with consumer discretionary stock and, of course not surprisingly commodities. copper has been weak and energy stocks weak. that happens any time you get china concerns. you get weakness in those sectors so the bottom line is anything we've seen this week, number one, what can move the market down is higher interest rates, concerns about higher rates. secondly any kind of concern about weakness in china also moving the market. have a grade great weekend. >> let's go to the nasdaq and seema mody is there following the big moveers? >> tyler, so many individual stock stories. starting with amazon, shares are staging a comeback after the company reported disappointed earnings last night. that's helping the nasdaq pear losses. starbucks, that's the top performing stock on the ndx, the company reporting a beat on earnings thanks to strong demand overseas. comps up 9% in asia and china and the expanded menu seems to bode well. starbucks is firing on all cylinders. we'll have to see if valuation becomes a concern as it trades to a premium on the s&p 500. gilad sciences
, now white collar criminal defense attorney. we have don steinbrook, a managing member at agecraft, and also cnbc's own robert frank. guys, where do you even begin with this story? don, perhaps we'll start with you. obviously, this party was for a good cause. but at some point, when is it just become tone deaf to do something like this? >> you know, i think it's not good public relations for steve cohen, but i think as far as s.a.c. goes, it's completely irrelevant. i don't think it will have any impact on the d.a., how they approach this case. i think given where the firm is, they're not able to raise any money currently, so it won't reduce the marketability of the fund. i think as far as investors that are still with the fund, i think this party's not going to have any impact on whether they decide to stay or leave. >> michael, maybe it doesn't have that big of an impact that way, but is there an issue with this party? i mean, let's assume it was some longstanding thing, if it was, in fact, for charity. does it even matter? >> well, if it's a longstanding event for some charity,
through our defenses. that's why i believe what has happened, the damage to our country is significant and irreversible. what we're talking about is future terrorist attacks. >> and, of course general alexander took a little bit of a lighter note talking about the limits on e-mail collection even he said when it comes to his own daughters. >> i have four daughters. can i go and intercept their e-mails? no. >> can you? >> no, you may be able to. >> i had a chance to catch up with general alexander just after the conference and he told me that he wants edward snowden to come home to the united states from russia to face justice. tyler? >> thank you very much eamon javers reporting from las vegas for us. >> shares of sumantek surging today. the maker of the norton anti-virus software posting better than expected results as customers used more of its security products in the wake of a series of publicized hacking attacks. the stock is up about 40% just so far this year. sue? >> some headlines to tell you about, ty. we start with michael dell. he says he expects his
. >> growth. >> right. it's like the new york giants. you know? offense wins games but defense wins championships. i think the stock market is going to take care of itself. i still like growth. and i think when bob was talking about a broad-based rally and value investors, i think what's happening with value investors is they were a reluctant bond holders who went looking for dividends as well as a little growth, and they found that real quickly during this month as value went the other way. there's a little risk involved there. and so, i think you'll see a shift -- and that's why i like ivw. i like large-cap growth. it's the one part of the market that i think is still undervalued. but i would pay a lot of attention to my bond portfolio, because i think the bond market did not take the head fake today from the fed. the bond market said, you know what, i'm pricing these 10-year treasuries as if we already have tapering taking place, and they're holding firm on that. >> interesting. james, let me bring in james paulson. you still buying this market, james? >> well, maria, i've been s
tell you, they have a good defense. liz: you kind of glossed over when i ask you if you smoke into your -- spoken to people inside sac capital. is that a yes and, if so, what can you tell me? >> i can't really go too much into that, but what i can tell you is something that they had a feeling was coming. charlie will tell you that as well. people are not happy about it. liz: are they saying, it will be fine? don't worry? >> i make my own conclusions based upon my evidence. liz: are you going to cover your investors? >> i'm absolutely not. i have to make some calls this afternoon. liz: and you have been busy. ed butowsky. he is a -- look. innocent until proven guilty. we understand. please keep us posted. thank you so much. joining us live from dallas. plenty of market news. we are not ignoring that. facebook scoring big on advertising revenue this quarter boosting its stock. another company shares as well. let's get to nicole. >> reporter: today the story, facebook, you see the stock moving. the highest level since last year, the day after the ipo. $34, this huge steel. the biggest rall
like utilities has two strikes. one it is defensive so you don't get the full kick from a rising equity market and it's used as a bond substitute. the problem is prices move up and down together. things like reits, telecom utilities are vulnerable to higher rates. >> within technology i would think you like the ones to pay dividend sort of like a double kicker? >> not necessarily. i'm just looking for the growth because, again, the higher the dividend is the more people are buying it for a bond substitute. that's what you want to try and avoid when rates are rising. >> thanks for joining us. david kelly of jpmorgan. google unveiling its brand new nux us tablet today. could this prove to be the one gadget that ends up becoming the ipad killer. a look at some of the biggest stories sure to rule tomorrow's tape. nding exhilaration beyond the engineering. ♪ ♪ come to the golden opportunity sales event to experience the precision handling of the lexus performance vehicles, including the gs and all-new is. ♪ ♪ this is the pursuit of p
and the government cuts. it's to defense. that's very productive. that's a big hit to gdp. it's not as big a hit to jobs. >> it's hard to have this conversation without bringing bruce kasman in which we'll do in just a second. the sector, 22,000 up for construction. is that one of the stronger numbers we've seen for construction? that's a delay we had. we had a surge in housing but then we didn't see the employment gains, now it seems to be coming a little bit later. the manufacturing sector, which mark i went back and checked, your manufacturing numbers are much weaker than the government's manufacturing numbers. is there a reason you could be undercounting it or the government overcounting? >> first construction. i'm counting on lots of good things from construction. we'll get a lot more home building. we should see more months of 20, 30 k going forward. this is key to getting to a higher level of job growth going forward. i'm expecting a lot there. this is just the beginning of it. in terms of manufacturing, bls is 0 to plus 5. adp has been 0 to minus 5. >> it's 50,000 jobs over the level is
, excluding aircraft and defense the number is decent, but it's not the extra impetus that you need to see in order to see a bigger peck up in business investment. right now, it looks like business investment is running in the low single digits at the end of q 2, heading into q3. it will be more difficult to achieve that high end of the forecast which is 3, 3.5% going into 2014 with business investment growing 5 to 8%. >> are the numbers today suggestive of the second quarter should be revised up a little bit? i had an average of below 1%. >> for us, according to our estimate the slowdown in consumer spending and business investments seems to have picked up actually a little bit if q2. we are seeing something around 1.2 right now. >> what about the claims number? 343, this level, what does that tell you about jobs and what we might get next friday? >> well, we had stand, our view right now, job growth will remain between 175 and 200. claims number to me suggests we are probably close to the consensus around 180 right now. >> and unemployment would be what? >> unemployment is a tougher call
. absolutely. >> we don't talk much about the defense side anyway. >> absolutely. >> john, good to see you. thanks very much for joining us. john strickland at jls consulting. >>> french food giant danone, results were boosted by strong demand for baby milk in china. weak sales in europe weighed on the operating margin. nevertheless, the firm still reiterated its 2013 forecasts growth of at least 5%. the shares up 2.75% in paris. >>> now, just when you thought london's burger craze couldn't get any stranger, the world's first test tube burger, yep, this is one made entirely from meat grown in a lab. it's going to be served up in the british capital next week. the five-ounce patty which costs 250,000 pounds to produce is made from 3,000 tiny strips of beef grown from stem cells. professor mark post pictured there, i presume, is the brainchild behind the burger. he says the project is designed to help address growing demand around the world. saying it could be the most important burger ever made for global hunger. we want to know, would you eat it? join the conversation and get in touch with
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